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Technology Stocks : Loral Space & Communications

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To: Thomas who wrote (2764)	4/28/1998 9:09:00 AM
From: dwight martin	Read Replies (1) of 10852

Tuesday April 28, 8:15 am Eastern Time Loral Space files for 16 mln shr offering NEW YORK, April 28 (Reuters) - Loral Space & Communications Ltd. announced today that it has filed a registration statement with the Securities and Exchange Commission for a public offering by the company of 16 million shares of its common stock. Loral said in a press release it intends to use the proceeds of the offering to invest in its existing core businesses and to pursue emerging satellite service opportunities worldwide. The company also plans to use offering proceeds in connection with its previously announced offer to purchase up to 4.2 million outstanding partnership interests in Globalstar, L.P. held by Globalstar's founding service provider partners, it said.

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